RBC Upgrades BP Rating to 'Outperform'

Royal Bank Of Canada (RBC) has upgraded its rating for BP (LON:BP) to 'outperform', citing potential upside of 29.70% from the stock's previous close.

The GBX 700 price objective set by RBC is a significant increase from the current market capitalization of £105.04 billion, indicating confidence in the company's future prospects.

This upgrade comes as part of a broader trend of positive sentiment surrounding BP, with nine research analysts maintaining a 'buy' rating and two issuing a 'hold' rating.